Save smarter for retirement

Women continue to have less retirement savings to their names than men because of the gender-wage gap and the time women spend caring for children and family that detracts from time spent doing paid work. To make up for the gap in retirement savings, women should consider saving a greater percentage of their income when possible, Ray Martin writes. Women who don't earn enough to afford setting aside funds for retirement could also consider setting up a spousal IRA, which would allow their spouse to divert some of his or her retirement savings into a separate account.